North East dental practices acquired by London dentistry investment group

A portfolio of two mixed income dental practices in Tyne & Wear have been sold to a London-based dentistry investment group.

Hebburn Dental Practice and Pelaw Dental Practices have been acquired by Riverdale Healthcare for an undisclosed sum.

Founded around 50 years ago, the practices are located within two miles of one another and comprise a total of five surgeries.

The practices have been operated by the previous principal since 2005, becoming fully associate-led since 2010.

Previous principal Julie Coates commented: “I was very pleased to sell to Riverdale Healthcare. They were hugely supportive throughout the acquisition, not only in assisting me and making the transition as easy as possible, but also engaging themselves with all of the practice team.

“Any issues which arose were dealt with smoothly and efficiently and enabled the acquisition to be completed in less than six months. I was genuinely thrilled to hand over to such a lovely team as Riverdale.”

Chris Aylward, chief investment officer of Riverdale Healthcare explained: “We are really excited to have completed our first acquisition to add to the Alpha Vitality practices.

“Julie’s practices are a perfect fit with the vision for Riverdale and we are looking forward to working with the practice teams to continue to deliver a patient focused dental service.”

The deal was supported by specialist business property adviser Christie & Co, with head of dental Paul Graham handling the sale.

Julie added: “Christie & Co was professional from start to finish. Our initial meeting at the practices established my aims and objectives of the sale and what I was hoping to achieve from it.

“Christie & Co was a great support to me and worked very hard to ensure a stress-free acquisition.”